Bristol Myers Squibb, through its RayzeBio subsidiary, secured global rights to Philochem’s OncoACP3, an experimental radiopharmaceutical for prostate cancer diagnosis and therapy, in a deal including $350 million upfront and up to $1 billion in milestones. The compound represents an alternative mechanism from Novartis' Pluvicto, marking BMS's strategy to augment its radiopharmaceutical drug portfolio for prostate cancer. This acquisition reinforces BMS's commitment to the expanding field of targeted radiotherapy and diagnostic imaging.